Analysts Set Tegna Inc. (TGNA) PT at $25.43
Shares of Tegna Inc. (NYSE:TGNA) have been assigned an average rating of “Hold” from the eleven brokerages that are currently covering the firm. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $25.43.
Several equities research analysts recently weighed in on the stock. FBR & Co upgraded shares of Tegna from a “market perform” rating to an “outperform” rating and increased their target price for the company from $24.00 to $26.00 in a research note on Tuesday, November 1st. Stephens lowered shares of Tegna from an “overweight” rating to an “equal weight” rating in a research report on Thursday, November 3rd. Argus reissued a “buy” rating and issued a $33.00 price target on shares of Tegna in a research report on Saturday, August 13th. Jefferies Group dropped their price target on shares of Tegna from $26.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday, July 27th. Finally, Zacks Investment Research lowered shares of Tegna from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 15th.
Tegna (NYSE:TGNA) opened at 19.80 on Tuesday. The stock’s 50 day moving average price is $20.31 and its 200 day moving average price is $21.81. The firm has a market capitalization of $4.24 billion, a P/E ratio of 7.70 and a beta of 1.66. Tegna has a 12 month low of $17.91 and a 12 month high of $28.95.
Tegna (NYSE:TGNA) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.07. Tegna had a net margin of 14.33% and a return on equity of 19.25%. The company earned $860.27 million during the quarter, compared to analysts’ expectations of $871.27 million. During the same period in the prior year, the company earned $0.37 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, analysts forecast that Tegna will post $2.27 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Wednesday, December 7th. Tegna’s dividend payout ratio is currently 26.67%.
Several hedge funds have recently modified their holdings of TGNA. Credit Agricole S A raised its stake in shares of Tegna by 25.1% in the first quarter. Credit Agricole S A now owns 62,169 shares of the company’s stock worth $1,458,000 after buying an additional 12,456 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Tegna by 80.5% in the first quarter. Riverhead Capital Management LLC now owns 120,740 shares of the company’s stock worth $2,832,000 after buying an additional 53,835 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Tegna by 5.0% in the first quarter. Geode Capital Management LLC now owns 1,900,641 shares of the company’s stock worth $44,503,000 after buying an additional 90,396 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Tegna during the first quarter worth $7,750,000. Finally, Magnetar Financial LLC raised its stake in shares of Tegna by 10.7% in the first quarter. Magnetar Financial LLC now owns 16,781 shares of the company’s stock worth $394,000 after buying an additional 1,622 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.
TEGNA Inc, formerly Gannett Co, Inc, includes a portfolio of media and digital businesses that provide content. The Company operates through two segments: TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment). Its media business includes approximately 50 television stations operating in over 40 markets and offers television programming and digital content.
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